Cambria Automobiles PLC - franchised motor retailer - Says performance in the first quarter of financial 2021 is ahead of the year prior despite Covid-related disruption in September, October and November. During the three months, the new car market was down 9.4% with the private segment down 7.8% and the diesel content down 34%. The new vehicle unit sales for the quarter were down 13%, with the sales of new retail cars to private guests down 13%. Used vehicle sales were down 26%.
Looking ahead, Cambria Automobiles says its outlook is uncertain due to Covid but expresses positivity on the announcement of a Brexit deal, vaccine approvals and its prudent approach to managing its cost base. It adds while it continues to suspend financial guidance, it expects the lockdowns to have a material impact on its performance for its financial year ending August 31.
Current stock price: 60.00 pence
Year-to-date change: up 2.6%
By Ife Taiwo; ifetaiwo@alliancenews.com
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